We use 616(main canon) unless otherwise stated. And Magneto's powers work very well on Colossus. Under Unit's control, Magneto launched Colossalnaut into space. And he used him as a projectile when fighting Proteus and to launch him at the Hellicarrier when the Avengers attacked Sanctuary.
Re: Re: Which One Of These Match Ups Is More Ironic
ultimate colossus was amped by drugs that gave him godlike power and ultimate magneto is demonstrably much weaker than colossus.
mag's powers have worked fine on colossonaut and kuurth was amped by two skyfather level beings. the fact that hope summers mimicking and amping dozens of powers only momentarily stopped causing no lasting injury him and got KOed in the process says it all.
I wouldn't say it gave him godlike power. He was just insanely strong. Probably in the top 4 of Ultimates with only Namor, Hulk, and Juggernaut surpassing him. And without the Banshee, he couldn't have overpowered Magneto because without it he couldn't even move at first. So it was sort of a necessary evil.
he beat the shit out of thor, which is godlike power as far as the ultimateverse is concerned. the other people on banshee were also performing on ver high levels of power, scott being amped into a superman-like character, for instance. colossus's power being a joke of nature is neither nor there.